The Board of Investments said it approved P195.7 billion worth of investment projects in the first four months, up 28 percent from P153.1 billion a year ago.
“The strong macroeconomic fundamentals and the continuous policy reforms sustained the increase of investments in the country,” said Trade Secretary and BoI chairman Ramon Lopez.
“We also expect that foreign direct investments will pick-up, as its outlook is always long-term which will generate more jobs and business opportunities,” Lopez said.
Trade undersecretary and BoI managing head Ceferino Rodolfo said the bulk of the investment projects in April came from the six air transport projects of Philippine Airlines Inc. with a combined investment of P19.05 billion.
The biggest single project approved in April was the P15.2-billion project of MWM Terminals Inc., a public-private partnership project known as the Parañaque Integrated Terminal Exchange along Coastal Road.